Real Estate News, Personalized.

Main menu

Search

Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Sells Mixed-Use Building In Brooklyn

03/12/2013

A mixed-use building at 1645 East 19th Street, located between Quentin Road and Kings Highwayin Brooklyn’s Sheepshead Bay neighborhood, was sold in an all-cash transaction valued at $760,000.

This two-story, two-family building contains approximately 2,500 square feet and sits on a 26.25’ x 125’ lot. The first floor had been converted to a dental office, which was recently renovated and remains in good condition. The second floor apartment is also in good condition and has three bedrooms and one bathroom. The shared driveway leads to a private two-car garage with space for an additional two cars outside. Approximately 13,125 buildable square feet add significant development potential. The sale price equates to approximately $304 per square foot.

This property is centrally located near the major thoroughfares of Kings Highway and Ocean Avenue. Mass transportation is nearby, with several bus lines in the area as well as the B and Q subway lines at Kings Highway.

“Multiple bids enabled the sellers to find the buyer with the best price and terms,” said Massey Knakal Director of Sales Brian Hanson, who exclusively handled this transaction with Chairman Bob Knakal.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.